FINANCIAL

STRATAWEST MANAGEMENT LTD ensures that our client’s financial affairs are maintained in an accurate manner and are kept current at all times. Accounting functions include the following:

• Maintenance of separate trust account(s) in the name of each client;
• Collection of monthly Strata Fees and Special Levies, penalties, parking, storage, laundry and miscellaneous charges, where appropriate.
  
  This includes:
  • Electronic bank transfers,
  • Notification to Owners of Strata Fees, Special Levies and other charges;
  • Reminder letters in advance of post-dated cheque payments expiring;
  • Posting of payments to each Owner’s account and maintaining accurate accounts receivable.
  • Initiating collection of overdue accounts, including correspondence, advice to the Strata Council and, if necessary, arranging for the filing of liens and court-ordered sale proceedings.

• Payment of approved trade and supplier invoices, employee, payroll and contractual obligations. This includes:
  • coding of invoices for processing and financial statement preparation;
  • preparation, signing and issuing of cheques on behalf of the Strata Corporation.
• Preparation of monthly operating statements to include:
  • balance sheet;
  • statements of receipts and disbursements for both the Operating and Contingency Reserve Funds;
  • General ledger listing;
  • accounts receivable listing by owner;
  • copy of bank statement and reconciliation;
  • copies of paid invoices.
  • Preparation of annual Operating and Contingency Reserve Fund budgets itemizing projected revenues and expenditures for approval by the Strata Council and Strata Corporation.

ADMINISTRATION

Organized and efficient administration is essential in the operation of any business and STRATAWEST MANAGEMENT LTD provides the following:

• arrangement of all Annual and Special General Meetings of the Strata Corporation to include:
• facility rentals where necessary;
• preparation and distribution of notices and agendas;
• provision of voting ballots and proxy forms;
• recording of attendees and proxy holders;
• ensuring meetings are legally constituted and conducted;
• preparation and distribution of meeting minutes.
• preparation and distribution of Strata Council Meeting Minutes as directed by the Strata Council;
• preparation and distribution of notices and business correspondence as required by the Strata Council;
• preparation and retention of required documentation for the sale of a strata lot
• attending to records management as required by the Strata Property Act and Strata Corporation’s bylaws, including maintaining:
• minutes of General and Strata Council meetings;
• list of strata council members
• lists of owners, tenants (including assignments of owner’s rights) and mortgagees;
• consolidated bylaws and rules
• insurance policies and appraisals;
• books of account;
• annual Operating and Contingency Reserve Fund budgets;
• trade and employment agreements;
• legal and arbitration decisions;
• tax returns;
• ¾ vote and unanimous vote resolutions;
• informational material to owners and tenants.

BUILDING AND PROPERTY

To complete our full contingent of management services and to ensure that the Strata Corporations common property, assets and equipment are maintained to high standards at optimum efficiency STRATAWEST MANAGEMENT LTD provides:

• liaison and supervision of employees, contractors and trades engaged by the Strata Corporation;
• attending to emergency situations and any required insurance claims submission;
• maintenance of arms length, working relationship with reliable and efficient trades in order to carry out repairs and maintenance to common property during routine and emergency situations.
• purchase of necessary supplies and materials, at discounts when available.

CONSULTING

In addition to financial, administrative and physical services, STRATAWEST MANAGEMENT LTD provides consulting services to include:

• analysis of and recommendations to the Operating and Contingency Reserve Fund budgets of the Strata Corporation;
• analysis of and recommendations to the insurance program of the Strata Corporation as required by the Strata Property Act;
• assistance with and recommendations for the preparation of annual financial statements as required by the Strata Property Act and Strata Corporation;
• review, recommendation and assistance with enforcement of Strata Corporation Bylaws;
• assistance with alternate dispute resolution procedures including arbitration and mediation.
• analysis and recommendation of building maintenance programs and improvements.